The best appraisers in the world can tell you the value of just about anything. From houses to ancient artifacts, appraisers have done their homework on the item and go through a process before determining its value.
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Below are several factors that guide how classic cars are appraised.
First, there’s the National Automobile Dealers Association or NADA price guide. This guide is what many appraisers consider the foremost authority in appraising all sorts of cars, including classic automobiles. On its website are estimations and price ranges that are comprehensive and consistent. But since classic car prices are relatively unstable compared to more modern automobiles, appraisers check out other factors such as demand and rarity.
Appraisers go online and check the usual sites to see which classic cars are highly sought-after and how many units are being sold in the market. This information greatly affects the pricing of the vehicles. Naturally, the higher the demand, the higher the price, and the less the units, meaning, the rarer the car is, the higher the price.
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Finally, appraisers work with car experts to check the condition of the car. There are guidelines for a car’s condition as well such as the Chet Krause rating system, which standardizes the categories for car conditions.
NovaStar Appraisals has been assisting clients in finding the best appraiser for their valuables and properties. For more about NovaStar Appraisals and the services it offers, check out this webpage.
